Chinese energy firm TBEA will invest in a 180 million euro ($209 million) hydropower project in Gabon alongside the West African country’s sovereign wealth fund.
The Chairman of Gabon’s National Agency for Investment Promotion, Liban Soleman, who disclosed this at the Forum on China-Africa Cooperation in Beijing said that construction which would begin soon would have a power generation capacity of 70 megawatts in the first phase.
“There are going to be multiple phases of the project, known as FE2, located in the north of Gabon near the border with Cameroon and Equatorial Guinea,” said Soleman.
He added that Gabon was working to diversify its economy, which is projected to grow by around 2.2 percent this year
Gabon, a member of OPEC pumping about 200,000 barrels of crude oil per day is one of the world’s biggest producers of manganese.